- Twitter CEO Parag Agarwal has announced the appointment of Elon Musk to the company’s board
- Agarwal wrote on Twitter, “This is exactly what we need on Twitter.”
- This development came after Elon Musk took a 9% stake in the social media platform
Twitter CEO Parag Agarwal on Tuesday welcomed entrepreneur and Tesla CEO Elon Musk to the board. The development comes after Elon Musk became the largest shareholder on the micro-blogging site.
Parag Agarwal tweeted, “Glad to announce I am appointing lonelonmusk on our board! Through conversations with Elon in recent weeks, it has become clear to us that he will bring a lot of value to our board.”
“He is both an ardent believer and a fierce critic of the service we need @ on Twitter and in the boardroom, to strengthen us in the long run. Welcome Elon!”
Musk is joining Twitter’s board of directors a day after the Tesla CEO announced a 9% stake in the social media platform.
Twitter Inc. A regulatory filing on Tuesday said it had entered into an agreement with Musk on Monday that would give the billionaire a seat on its board, ending its term at its 2024 annual shareholder meeting.
Mask, alone or as a member of a group, will not be able to own more than 14.9% of Twitter’s outstanding stock for 90 days as long as he remains a member of the board.
(With PTI input)
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